AFPS15 - government decision.
Obviously that would be the right and decent thing, so I think we can all assume the opposite will happen and watch HMRC tax it at the highest rate of interest possible....
AFPS05/ 15 versus 05
I’ve now got all the paperwork and a lump sum in under 21 days. I’ve been lucky.
I’ve also had a rough stab at which is best, and unless I’ve got something really wrong I’m going to be better off on a mix of pensions. Has anyone else had a fag packet go at the sums?
I’ve now got all the paperwork and a lump sum in under 21 days. I’ve been lucky.
I’ve also had a rough stab at which is best, and unless I’ve got something really wrong I’m going to be better off on a mix of pensions. Has anyone else had a fag packet go at the sums?
AFPS05/ 15 versus 05
I’ve now got all the paperwork and a lump sum in under 21 days. I’ve been lucky.
I’ve also had a rough stab at which is best, and unless I’ve got something really wrong I’m going to be better off on a mix of pensions. Has anyone else had a fag packet go at the sums?
I’ve now got all the paperwork and a lump sum in under 21 days. I’ve been lucky.
I’ve also had a rough stab at which is best, and unless I’ve got something really wrong I’m going to be better off on a mix of pensions. Has anyone else had a fag packet go at the sums?
Yep, as BV says, it needs a bit of work and for Reservists it is a retrograde step as it doesn’t seem to do RFPS05 anymore. However, you can adjust the dates a little if you left in the last year or so and still get a fairly good indicator of what you’re likely to get.
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From the AFPS:
As you are probably all aware, the enhanced Armed Forces Pension Calculator is now live, and will provide Serving Personnel with an illustration of their pension entitlement, and for those who are in-scope for the AFPS 15 Remedy, a side-by-side comparison of their reformed (AFPS 15) and legacy scheme benefits.
Many of our Veteran members are asking the team if the new version of the calculator will be available for those who already left. Unfortunately, the answer is no, it only operates for serving personnel (as per the previous version of the calculator).
Veterans will need to wait for their Remediable Service Statement (RSS) which will be issued within 18 months from 1 October 2023 – so by 1 April 2025
The initial RSS will not facilitate an election choice unless/until your deferred benefits are due to come into payment. Rather this RSS will simply compare the pension benefits for the remedy period for information purposes only. Thereafter, members with deferred benefits can request one RSS per year if they wish until such time as their pension benefits are payable, at which point they will be requested to make their remedy choice.
As you are probably all aware, the enhanced Armed Forces Pension Calculator is now live, and will provide Serving Personnel with an illustration of their pension entitlement, and for those who are in-scope for the AFPS 15 Remedy, a side-by-side comparison of their reformed (AFPS 15) and legacy scheme benefits.
Many of our Veteran members are asking the team if the new version of the calculator will be available for those who already left. Unfortunately, the answer is no, it only operates for serving personnel (as per the previous version of the calculator).
Veterans will need to wait for their Remediable Service Statement (RSS) which will be issued within 18 months from 1 October 2023 – so by 1 April 2025
The initial RSS will not facilitate an election choice unless/until your deferred benefits are due to come into payment. Rather this RSS will simply compare the pension benefits for the remedy period for information purposes only. Thereafter, members with deferred benefits can request one RSS per year if they wish until such time as their pension benefits are payable, at which point they will be requested to make their remedy choice.
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That said it’s still a surprising result in that my lump sum is greater if I revert to the 75 Scheme and my annual pension is greater if I stay as I am on the scheme that kicked in in Apr 15. Slightly surprised as I promoted in 2017 so was hoping that promotion under 75 Scheme terms might be a bit of a boost.
The utter confusion that is MOD pensions continues!
The AFPS 15 accrual rate is better than that of AFPS 05 but you need to factor in that AFPS 05 has an automatic lump sum whereas AFPS 15 does not. However, if you surrender pension, you can generate a bigger lump sum than that of AFPS 05.
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Mmmmm - Looking at the MoD published booklet 'Your 2015 Pension Remedy Explained' booklet (which is surprisingly good), I note the timescales going back to July 2019, when the Govt committed to take steps to remedy the pension discrimination saga. Through much gnashing of teeth and allegedly significant legal bureaucracy, MoD then managed to delay implementation until October 2023 with a defensive line that it could take until April 2025 before everyone in the bracket gets their RSS statement! Cynically, I suspect it will probably be several months after that before corrected pension amounts are finally settled. The aforementioned booklet also states that those already in receipt of a military pension will be prioritised!!
In my particular case, having extended well beyond the age of 60 (still in a flying job on a FL Sqn) and now recently retired, I had no option other than staying on AFPS75 terms which meant all those years from the age of 55 upwards counted for absolutely nothing towards my final pension. Having topped out on the highest level for PAS several years ago, the McCLoud judgement is a fantastic deal for me to the tune of approx. £10k per year and so I ask myself - what have MoD pension staffs been doing since July 2019? I remember one DiN pushed out by some high level female civil servant about 18 months ago that made a big point of the fact that nothing needed to be done before Oct 23. The amount of adverse feedback to her comments on ModNet nearly crashed the system and after responding to the first 2 comments in a very defensive manner, that was the end of her replies.
In response to some of the comments above though, I know of many, many retired individuals who are waiting for their RSS and yet I do not know of a single person who has heard a sniff as yet. I'm sure a MoD spokesperson would throw out wankword statements about dedicated teams working around the clock, at pace, deeply committed etc., but in reality I suspect it's been dumped on an overworked junior as a secondary duty (great for Billy Bobs career profile etc.) I also wouldn't be surprised if Billy Bob suddenly identified as a hedgehog and therefore needed to hibernate from the office for 6 months - fully supported by MoD's latest LGBTQ+* policy diktat.
Sadly I suspect pba target will probably be proved correct with his March 25 prediction but even that may prove optimistic once the excuses start flowing like 'overwhelmed and understaffed blah'. As ever, watch this space.
In my particular case, having extended well beyond the age of 60 (still in a flying job on a FL Sqn) and now recently retired, I had no option other than staying on AFPS75 terms which meant all those years from the age of 55 upwards counted for absolutely nothing towards my final pension. Having topped out on the highest level for PAS several years ago, the McCLoud judgement is a fantastic deal for me to the tune of approx. £10k per year and so I ask myself - what have MoD pension staffs been doing since July 2019? I remember one DiN pushed out by some high level female civil servant about 18 months ago that made a big point of the fact that nothing needed to be done before Oct 23. The amount of adverse feedback to her comments on ModNet nearly crashed the system and after responding to the first 2 comments in a very defensive manner, that was the end of her replies.
In response to some of the comments above though, I know of many, many retired individuals who are waiting for their RSS and yet I do not know of a single person who has heard a sniff as yet. I'm sure a MoD spokesperson would throw out wankword statements about dedicated teams working around the clock, at pace, deeply committed etc., but in reality I suspect it's been dumped on an overworked junior as a secondary duty (great for Billy Bobs career profile etc.) I also wouldn't be surprised if Billy Bob suddenly identified as a hedgehog and therefore needed to hibernate from the office for 6 months - fully supported by MoD's latest LGBTQ+* policy diktat.
Sadly I suspect pba target will probably be proved correct with his March 25 prediction but even that may prove optimistic once the excuses start flowing like 'overwhelmed and understaffed blah'. As ever, watch this space.
Hmmmmmm, largely agree with all the recent posters that this will take ages. Currently in reciept of a mix of 75/15.....I also wonder how they will balance the acoount so to speak...what if I choose an option that reduces income and increases lump sum after already having recieved the income for instance, surely the longer this takes the more complex the offer becomes?
I looked at a colleague who is due to leave RSS and it wasn't terribly clear either!
I looked at a colleague who is due to leave RSS and it wasn't terribly clear either!
Mmmmm - Looking at the MoD published booklet 'Your 2015 Pension Remedy Explained' booklet (which is surprisingly good), I note the timescales going back to July 2019, when the Govt committed to take steps to remedy the pension discrimination saga. Through much gnashing of teeth and allegedly significant legal bureaucracy, MoD then managed to delay implementation until October 2023 with a defensive line that it could take until April 2025 before everyone in the bracket gets their RSS statement! Cynically, I suspect it will probably be several months after that before corrected pension amounts are finally settled. The aforementioned booklet also states that those already in receipt of a military pension will be prioritised!!
In my particular case, having extended well beyond the age of 60 (still in a flying job on a FL Sqn) and now recently retired, I had no option other than staying on AFPS75 terms which meant all those years from the age of 55 upwards counted for absolutely nothing towards my final pension. Having topped out on the highest level for PAS several years ago, the McCLoud judgement is a fantastic deal for me to the tune of approx. £10k per year and so I ask myself - what have MoD pension staffs been doing since July 2019? I remember one DiN pushed out by some high level female civil servant about 18 months ago that made a big point of the fact that nothing needed to be done before Oct 23. The amount of adverse feedback to her comments on ModNet nearly crashed the system and after responding to the first 2 comments in a very defensive manner, that was the end of her replies.
In response to some of the comments above though, I know of many, many retired individuals who are waiting for their RSS and yet I do not know of a single person who has heard a sniff as yet. I'm sure a MoD spokesperson would throw out wankword statements about dedicated teams working around the clock, at pace, deeply committed etc., but in reality I suspect it's been dumped on an overworked junior as a secondary duty (great for Billy Bobs career profile etc.) I also wouldn't be surprised if Billy Bob suddenly identified as a hedgehog and therefore needed to hibernate from the office for 6 months - fully supported by MoD's latest LGBTQ+* policy diktat.
Sadly I suspect pba target will probably be proved correct with his March 25 prediction but even that may prove optimistic once the excuses start flowing like 'overwhelmed and understaffed blah'. As ever, watch this space.
In my particular case, having extended well beyond the age of 60 (still in a flying job on a FL Sqn) and now recently retired, I had no option other than staying on AFPS75 terms which meant all those years from the age of 55 upwards counted for absolutely nothing towards my final pension. Having topped out on the highest level for PAS several years ago, the McCLoud judgement is a fantastic deal for me to the tune of approx. £10k per year and so I ask myself - what have MoD pension staffs been doing since July 2019? I remember one DiN pushed out by some high level female civil servant about 18 months ago that made a big point of the fact that nothing needed to be done before Oct 23. The amount of adverse feedback to her comments on ModNet nearly crashed the system and after responding to the first 2 comments in a very defensive manner, that was the end of her replies.
In response to some of the comments above though, I know of many, many retired individuals who are waiting for their RSS and yet I do not know of a single person who has heard a sniff as yet. I'm sure a MoD spokesperson would throw out wankword statements about dedicated teams working around the clock, at pace, deeply committed etc., but in reality I suspect it's been dumped on an overworked junior as a secondary duty (great for Billy Bobs career profile etc.) I also wouldn't be surprised if Billy Bob suddenly identified as a hedgehog and therefore needed to hibernate from the office for 6 months - fully supported by MoD's latest LGBTQ+* policy diktat.
Sadly I suspect pba target will probably be proved correct with his March 25 prediction but even that may prove optimistic once the excuses start flowing like 'overwhelmed and understaffed blah'. As ever, watch this space.
the problem was the fact that there were more than just the MoD affected, and Co-ordinating multiple pension schemes took a while.
Since October 1st there has been NO co-ordinating with any other scheme.
From October 1st guess what’s been happening. Were you the real ‘Pike’?
Last edited by Atlasisrubbish; 30th Nov 2023 at 07:21.